Recent revisions to Article 9 of the UCC will take effect in Rhode Island and around the country in 2013. These revisions will change some critical filing rules, search methods and lender due-diligence practices. Counsel for lenders and borrowers must identify how the Amendments will affect transactions entered into prior to the effective date and understand how to maintain perfection of those security interests.
Our panel will provide an overview of these recent revisions.
In addition, the panel will explain best practices for perfecting a security interest in personal property. During the presentation, the panel will also identify those categories of personal property collateral which fall outside of the UCC, thereby requiring alternate or supplemental steps to achieve perfection.